Thursday, February 25

Administration proposes price controls on major component of economy… now I’m too young to remember the 70s but shouldn’t someone in the administration remember what happened the last time price controls were imposed on such a large portion of our economy? Shortages. Bad times.
How Nixonian of our POTUS.

And if you want to see more recent evidence of the wrongheadedness of this approach, try Chavez’s attempts at price controls in Venezuela.

Of course the government will only strike down “unreasonable” price hikes. No room for arbitrary power plays in that regulation. How many lawyers does it take to define unreasonable? How many you got? Maybe it’s a targeted stimulus to the legal profession…

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